Novartis got government approval for a new cancer therapy. The treatment will cost a staggering $475,000, and it will help children and young adults with a certain type of Leukemia. Yahoo Finance's Seana Smith, Nicole Smith and Rick Newman react to what Wall Street is saying about the drug.

As discussed earlier, Pfizer’s (PFE) revenue rose ~1% to $13.7 billion during 4Q17 driven by increased sales of its Innovative Health products. It reflects revenues for both Pfizer’s Innovative Health and Essential Health segments in 4Q17. Pfizer reported a fall of ~4% in its US sales in 4Q17, while its sales outside US markets reported a 5% revenue rise in the quarter.

Valeant Pharmaceuticals (VRX) operates through three segments: Bausch and Lomb (or the International segment), Branded Prescriptions, and US Diversified Products. This segment consists of Valeant’s US sales of pharmaceutical products, over the counter products, and medical devices, which primarily consist of ophthalmics, surgical, consumer products, and the sales of branded, generic, over-the-counter, and medical devices in Canada, Europe, Asia, Australia, New Zealand, Latin America, Africa, and the Middle East. With the sale of Dendreon in June 2017, Valeant exited its oncology business, which was a part of the Branded Prescriptions segment.

In his first State of the Union speech, President Trump didn’t have any surprises for the markets (SPY). At the annual State of the Union meeting, President Trump addressed a joint session of Congress. President Trump stayed away from any surprise statements that could have spooked the markets.

On January 22, 2018, Vermont decriminalized the possession of marijuana for adults 21 and older. With increasing attention on the legalization of recreational marijuana in recent months, Vermont became the ninth state in the US to legalize marijuana for recreational purposes. This move comes almost six years after recreational marijuana became legal in Colorado and Washington.